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The Holy Grail of Macroeconomics: Lessons from Jap by Koo, Richard C. 0470823879
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ISBN: 9780470823873

The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession. Indem Sie ein gut erhaltenes Buch aus zweiter Hand kaufen, unterstützen Sie eine fortlaufende Wiederverwendung sowi… Más…

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The Holy Grail of Macroeconomics: Lessons from Japans Great Recession - encuadernado, tapa blanda

ISBN: 9780470823873

Japans Great Recession lasted from approximately 1992 - 2007 and finally provided the economics profession with the necessary background to understand what actually happened during the US… Más…

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Richard C. Koo:
Holy Grail of Macroeconomics : Lessons from Japan's Great Recession by Richard C. Koo - libro usado

2007

ISBN: 9780470823873

Japan's "Great Recession" lasted from approximately 1992 - 2007 and finally provided the economics profession with the necessary background to understand what actually happened during the… Más…

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Koo, Richard C.:
The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession - Primera edición

2008, ISBN: 9780470823873

Pasta dura

John Wiley & Sons, Gebundene Ausgabe, Auflage: 1. Auflage, 312 Seiten, Publiziert: 2008-07-15T00:00:01Z, Produktgruppe: Book, Hersteller-Nr.: graphs, 1.33 kg, Recht, Kategorien, Bücher, W… Más…

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Koo, Richard C.:
THE HOLY GRAIL OF MACROECONOMICS - encuadernado, tapa blanda

2009, ISBN: 0470823879

[EAN: 9780470823873], Neubuch, [PU: Wiley], New., Books

NEW BOOK. Gastos de envío: EUR 49.56 BennettBooksLtd, San Diego, CA, U.S.A. [52101753] [Rating: 5 (von 5)]

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Detalles del libro
The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession

Japan's "Great Recession" lasted from approximately 1992 - 2007 and finally provided the economics profession with the necessary background to understand what actually happened during the US recession of the 1930s. The discoveries made, however, are so far-reaching that a large portion of economics literature will have to be modified to accommodate another half to the macro economic spectrum of possibilities that conventional theorists have overlooked. In particular, Japan's Great Recession showed that when faced with a massive fall in asset prices, companies typically jettison the conventional goal of profit maximization and move to minimize debt in order to restore their credit ratings. This shift in corporate priority, however, has huge theoretical as well as practical implications and opens up a whole new field of study. For example, the new insight can explain fully the precise mechanism of prolonged depression and liquidity trap which conventional economics - based on corporate profit maximization - has so far failed to offer as a convincing explanation. The author developed the idea of yin and yang business cycles where the conventional world of profit maximization is the yang and the world of balance sheet recession, where companies are minimizing debt, is the yin. Once so divided, many varied theories developed in macro economics since the 1930s can be nicely categorized into a single comprehensive theory, i.e., the Holy Grail of macro economics The policy implication of this new discovery is immense in that the conventional aversion to fiscal policy in favor of monetary policy will have to be completely reversed when the economy is in the yin phase. The theoretical implications are also immense in the sense that the economics profession will no longer have to rely so much on various rigidities to explain recessions that have become the standard practice within the so-called New Keynesian economics of the last twenty years.

Detalles del libro - The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession


EAN (ISBN-13): 9780470823873
ISBN (ISBN-10): 0470823879
Tapa dura
Año de publicación: 2008
Editorial: John Wiley & Sons
296 Páginas
Peso: 0,595 kg
Idioma: eng/Englisch

Libro en la base de datos desde 2008-05-26T22:09:37-05:00 (Mexico City)
Página de detalles modificada por última vez el 2022-05-17T17:40:30-05:00 (Mexico City)
ISBN/EAN: 0470823879

ISBN - escritura alterna:
0-470-82387-9, 978-0-470-82387-3
Mode alterno de escritura y términos de búsqueda relacionados:
Autor del libro: richard koo, yin, monetary policy depression
Título del libro: grail, the holy, macroeconomics, lessons from, recession, here japan


Datos del la editorial

Autor: Richard C. Koo
Título: The Holy Grail of Macroeconomics - Lessons from Japan's Great Recession
Editorial: John Wiley & Sons
Año de publicación: 2008-07-15
Peso: 0,666 kg
Idioma: Inglés
30,90 € (DE)
Not available (reason unspecified)

BB; GB; Hardcover, Softcover / Wirtschaft/Volkswirtschaft; Wirtschaftswissenschaft; Makroökonomie

Acknowledgments. Preface. Chapter 1. Japan's Recession. Chapter 2. Characteristics of Balance Sheet Recessions. Chapter 3. The Great Depression was a Balance Sheet Recession. Chapter 4. Monetary, Foreign Exchange, and Fiscal Policy During a Balance Sheet Recession. Chapter 5. Yin and Yang Economic Cycles and the Holy Grail of Macroeconomics. Chapter 6. Pressure of Globalization. Chapter 7. Ongoing Bubbles and Balance Sheet Recessions. Appendix. Thoughts on Walras and Macroeconomics. Index.

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